- Paytm shares will start trading on the NSE & BSE with effect from Nov 18
- Paytm allocated shares at IPO's upper price band of Rs 2,150 apiece
- Paytm Rs 18,300 cr IPO was oversubscribed 1.89 times. It is touted to be India's biggest share sale
Paytm IPO allotment status is out. Investors can check their Paytm share allotment status on the IPO registrar LinkIntime's website by entering PAN Number or Application Number or DP/Client ID or Account No / IFSC.
The digital payments and financial services firm allocated shares at the upper price band of Rs 2,150 apiece. Paytm shares are likely to be listed on the NSE and BSE on November 18.
In the grey market, Paytm shares are trading at the lowest premium since the issue was opened for subscription. Paytm share grey market premium has reduced below 2 per cent to trade at Rs 30-40 apiece. It means that Paytm shares are available at a price of Rs 2,180 in the grey market.
Based on the bid received for Paytm's Rs 18,300 crore initial public offer (IPO), the company will list an enterprise valuation of Rs 1,49,428 crore or slightly over USD 20 billion at an exchange rate of 74.35.
The country's biggest IPO was subscribed 1.89 times with institutional buyers including FIIs flooding the share sale with offers seeking 2.79 times the number of shares reserved for them. The company saw participation from blue chip investors like Blackrock, Canada Pension Plan Investment Board, GIC, ADIA, APG, City of New York, Texas Teachers Retirement, NPS Japan, University of Texas, NTUC Pension out of Singapore, University of Cambridge etc.
Retail investors lapped up for 1.66 times the 87 lakh shares reserved for them. According to experts, Paytm will be one of India's most valued companies on listing. Its large issue size meant that the sheer value of its retail size is much larger than that seen in recent internet IPOs like that of Zomato or Nykaa, combined.
Some of the largest IPOs before like Coal India's had seen the highest subscription on the final day of bidding. Coal India had closed at 15.28 times on the last day. The same trend was seen even for recent, and significantly much smaller IPOs like Nykaa and PolicyBazaar, where more than 90 per cent of the QIB bids, and also overall bids came in on Day 3.
Paytm IPO comprised a fresh issue of equity shares worth Rs 8,300 crore and an offer for sale (OFS) of shares worth up to Rs 10,000 crore. The OFS, or secondary share sale, consisted of the sale of shares worth up to Rs 402.65 crore by founder Vijay Shekhar Sharma. The company set aside 75 per cent of the offer for QIBs, 15 per cent for non-institutional investors, and the remaining 10 per cent for retail investors.
Incorporated in 2000, One97 Communications is India's leading digital ecosystem for consumers and merchants. It offers a range of services to the users – payment services and financial services.